Tata Sons board discusses new ventures, to hold more reviews

Tata Trusts chairman Noel Tata’s push for clarity on new Tata Sons businesses prompted the company's board to discuss in detail plans for aviation, batteries, electronics, semiconductors and e-commerce for the first time on Tuesday, with a plan to hold review meetings at least twice a year.

- Satish John

Over a six-and-a-half-hour meeting at Bombay House, the six-member Tata Sons board, including chairman N. Chandrasekaran and Noel Tata, was briefed on the businesses, with the business chiefs making individual presentations and taking questions from the board members, according to two executives.

Tata Sons’ board meeting focused solely on the details of the loss-making businesses, with no discussion of Chandrasekaran’s tenure, according to the first executive. Another board meeting on 12 June is expected to discuss the possibility of another term for Chandrasekaran, whose second five-year stint as Tata Sons chairman ends in February next year.

“Mr Tata came prepared as he was briefed by Chandra (Chandrasekaran) over the weekend,” said the first executive.

“Mr Tata wants to solve the problem of these loss-making businesses. For this reason, more such review meetings are expected,” said the first executive.

“Every six months, provided there is consensus,” said the executive. “This is not the last operational review.”